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is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one would assume in terms of good or bad for the market, for the economy. >> kernen had a good point. does strength mean the economy could handle a cliff or is it so good you wouldn't want to tamper -- >> if i wanted to create a recession, what would i do? i would raise everybody's rates. i would cut the unemployment benefit. just trying to think of a theory of how i could cause a recession. i would cut back government spending quickly. >> i would raise interest rates to 20%. >> bernanke ought to join the -- look, i think this is what's going to happen. i think it's 50-50 we get a deal. no vacation. no legislation, no vacation. i think that when people get their paycheck at the end of january, they are going to be shocked at how much lower it is. i know these guys in washington, their paycheck isn't affected. i think when you get your paycheck, you're going to say i hate that. it is going to be that big. it's going to be very -- the takeout is going to be
is not bad, let's assume not bad, it puts even more of a focus on the fiscal cliff negotiations because it becomes even more binding one would assume in terms of good or bad for the market, for the economy. >> kernen had a good point. does strength mean the economy could handle a cliff or is it so good you wouldn't want to tamper -- >> if i wanted to create a recession, what would i do? i would raise everybody's rates. i would cut the unemployment benefit. just trying to think of a...
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i'm worried about the fiscal cliff, yes. negotiations look ugly. also i'm worried about u.s. stocks once they start to go ex-dividend and costco and disney on december 10th will be poster children for what happens to a stock after it pays out its dividend. so what i'm interested in is selling euro on the unemployment data that comes up. i'm taking an event like unemployment day and trying to sell it on a rally. i want to do that around 13175. profit down around 12975 and stop loss at 13250. again it's just this week. we have decent risk. most of the risk on trades will hold including euro. next week not so much. >> not least because the fed is meeting and may substantially weaken the dollar on its announcement on qe or are we not as sensitive on the greenback to that at the moment? >> i think that's priced in. what's not priced in is what happens after the ex-dividend date for stocks. i think they rallied back from their post-election blues because so many companies have issued new dividends. the fact that you were talking about apple and then not payi i a dividend and that's
i'm worried about the fiscal cliff, yes. negotiations look ugly. also i'm worried about u.s. stocks once they start to go ex-dividend and costco and disney on december 10th will be poster children for what happens to a stock after it pays out its dividend. so what i'm interested in is selling euro on the unemployment data that comes up. i'm taking an event like unemployment day and trying to sell it on a rally. i want to do that around 13175. profit down around 12975 and stop loss at 13250....
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. >>> tomorrow on "squawk box," negotiating a deal on the fiscal cliff. we'll talk about possible paths to a compromise with our guest host former treasury secretary larry summers. >>> plus, the ceo of caterpillar will give us the business perspective on the deficit disaster. you can't afford to miss "squawk box" tomorrow starting at 6:00 a.m. eastern. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-3
. >>> tomorrow on "squawk box," negotiating a deal on the fiscal cliff. we'll talk about possible paths to a compromise with our guest host former treasury secretary larry summers. >>> plus, the ceo of caterpillar will give us the business perspective on the deficit disaster. you can't afford to miss "squawk box" tomorrow starting at 6:00 a.m. eastern. if you think running a restaurant is hard, try running four. fortunately we've got ink. it gives us 5x the...
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both sides of the fiscal cliff negotiations are much closer than you may think despite what law makes say publicly. jackie calms of the "new york times" picked up on something that lawmaker tim cole said recently. >> the republicans should just declare victory and taking the 98% of the tax cuts that they agree on and work next year on tax reform and see if they can't get the top rate back down again. it's hard to think that that's not where they're going to end up so why not make it clean instead of ugly. >> i think it's true that many people are saying privatery what tom cole said publicly on the show. but they believe that the politically right thing to do right now is to cut that you are losses, let tax rates go up for the most wealthy and really try for significant tax reform so that 39.6% is going to be mute. >> so the good news is that negotiations do continue, there was a meeting today between president obama and house speaker john boehner. that happened at the white house today, we are frying to get more details, we're trying to get our white house chief correspondent jessica
both sides of the fiscal cliff negotiations are much closer than you may think despite what law makes say publicly. jackie calms of the "new york times" picked up on something that lawmaker tim cole said recently. >> the republicans should just declare victory and taking the 98% of the tax cuts that they agree on and work next year on tax reform and see if they can't get the top rate back down again. it's hard to think that that's not where they're going to end up so why not...
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cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and getting outside of washington, d.c. congressional republicans not so happy that the president is doing this. >> we understand that. paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn contributor ryan lizza with us. john boehner and the president in a room, just the two of them. good idea? >> i think it is a good idea. >> if you look at the accounts of the negotiations of 2011 when you had boehner, mcconnell, nancy pelosi all in one ba bainer and the president who were on the phone meeting privately. they could go fwook their constituents and boehner could go to eric cantor and see what kind of deal they could get. but that was the dynamic that came the closest. >> they didn't have control of their parties basically right? does john boehne
cliff negotiations. different than a year and a half ago when the president dealt only with republicans in congress. this time he is taking the case to americans and getting outside of washington, d.c. congressional republicans not so happy that the president is doing this. >> we understand that. paul steinhauser live in washington, thank you. >>> let's talk more about the fiscal cliff. we have the washington correspondent for the new yorker and cnn contributor ryan lizza with...
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keep in mind they're the ones trying to do the deal here to avert this fiscal cliff. the tax hikes, the spending cutting scheduled for the first of the week now. join ming me from washington is senator olympia snowe. are you hearing -- what might you be hearing between the president and spirit? >> i think it is optimistic in the sense that at least they have met once again because i think that that is going to be crucial and central to any resolution, to the fiscal cliff crisis. and the more they meet and more that they have these lines of communications opened on a daily basis and their staffs are meeting, the more likely we'll see a conclusion to this issue. but it is regrettable that it is this late in the day, given the uncertainty and the apprehension that it continues to create among the american people, and, of course, both within the markets here and abroad. but i think it is hopeful that they have begun to meet and have some discussions because i think we can breathe a sigh of relief that the lines of communication are open. >> are you breathing that sigh of
keep in mind they're the ones trying to do the deal here to avert this fiscal cliff. the tax hikes, the spending cutting scheduled for the first of the week now. join ming me from washington is senator olympia snowe. are you hearing -- what might you be hearing between the president and spirit? >> i think it is optimistic in the sense that at least they have met once again because i think that that is going to be crucial and central to any resolution, to the fiscal cliff crisis. and the...
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cliff. we're not reading out details of the conversation, but the lines of communication remain open. cnn's dan lothian is at the white house this morning. dan, i guess the fact that the lines of communication are open is a good sign. >> reporter: that's right. it is a good sign. it was just about a week ago that we were reporting about how nothing was going on, not in public and not in private. aides up on the hill, republican aides telling us there were no phone calls, no e-mails, no communication whatsoever. so this is encouraging in that the president sat down face to face with speaker boehner, but i think it's telling that both the speaker's office and white house put out these identical statements. i mean, what it shows here is that they've agreed to negotiate in private. there's a strategy here not to make this play out in public but rather happen behind closed doors so they can hash this out, hammer this out. it's unclear whether this will continue at that level. i did communicate wi
cliff. we're not reading out details of the conversation, but the lines of communication remain open. cnn's dan lothian is at the white house this morning. dan, i guess the fact that the lines of communication are open is a good sign. >> reporter: that's right. it is a good sign. it was just about a week ago that we were reporting about how nothing was going on, not in public and not in private. aides up on the hill, republican aides telling us there were no phone calls, no e-mails, no...
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tough negotiation realtime. >> now another thing to the fiscal cliff deal? a deal i'm pretty sure is pretty bad whatever it is. not enough. >> but every little bit helps and here's the point. you know, the post office defaulted twice in the last couple of months, erin. august, defaulted $5.5 billion the first time. congress did nothing, fiddled. happened in september. overall last year, they lost $15.9 billion. something's got to be done. do they kick the can to the next year? >> thanks so much, john. >>> talking about default, they default and nobody cares. some day we'll care and going to hurt. >>> next, 22 days if the fiscal cliff and the president's taking the plan on the road but a guest says mr. obama, you are overplaying your hand. >>> and a radio prank blamed for a suicide. the two deejays behind the hoax speak out for the first time. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. ...so as you can see, geico's customer sat
tough negotiation realtime. >> now another thing to the fiscal cliff deal? a deal i'm pretty sure is pretty bad whatever it is. not enough. >> but every little bit helps and here's the point. you know, the post office defaulted twice in the last couple of months, erin. august, defaulted $5.5 billion the first time. congress did nothing, fiddled. happened in september. overall last year, they lost $15.9 billion. something's got to be done. do they kick the can to the next year?...
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this might, might be part of the fiscal cliff negotiation. it's a question of how much more money could be saved by making packages happen on saturday but not all mail delivery? it's a tough decision. >> and now you're adding something more to the fiscal cliff deal, a deal i'm pretty sure is going to be pretty bad. >> but every little bit helps. the post office defaulted twice in the last couple months, erin. august, defaulted $5.5 billion for the first time. congress did nothing. fiddled. now, same thing happened in september. overall last year, they lost $15.9 billion. something has got to be done. can they kick the can to next year or get a deal done before next year? >> sad, defaulting on billions of dollars and we all think nothing is going to happen. one day, america, something terrible is going to happen. out front next, 22 days away from the fiscal cliff, the president is taking his plan on the road. one of our guests says mr. obama is overplaying his hand. >>> and radio prank is blamed for a suicide. two deejays behind the host speak
this might, might be part of the fiscal cliff negotiation. it's a question of how much more money could be saved by making packages happen on saturday but not all mail delivery? it's a tough decision. >> and now you're adding something more to the fiscal cliff deal, a deal i'm pretty sure is going to be pretty bad. >> but every little bit helps. the post office defaulted twice in the last couple months, erin. august, defaulted $5.5 billion for the first time. congress did nothing....
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what role could it play in the fiscal cliff negotiations? >>> major earthquake rattles nerves and shakes buildings in japan in the same area as nearly two years ago. >>> fiscal cliff for air travelers, ground your trip or compromise air safety. >>> be careful what you write on review websites. one woman is being sued for almost $1 million for posting a nasty review online. find out which side the judge is taking. taking. "newsroom" begins right now. -- captions by vitac -- www.vitac.com >>> good morning. thanks for joining us. i'm don lemon in for carol costello this morning. the labor department this morning says 146,000 jobs were added in november and unemployment fell to 7.7%. so, let's put this all in perspective for you just one month earlier. in october, 138,000 jobs were added. so we're going to begin our coverage now with cnn correspondent and first up is christine romans. good morning, christine. >> good morning, don. we give the headline 146,000 jobs created, more than we expected, more than economists had expected, twice what a cn
what role could it play in the fiscal cliff negotiations? >>> major earthquake rattles nerves and shakes buildings in japan in the same area as nearly two years ago. >>> fiscal cliff for air travelers, ground your trip or compromise air safety. >>> be careful what you write on review websites. one woman is being sued for almost $1 million for posting a nasty review online. find out which side the judge is taking. taking. "newsroom" begins right now. --...
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cliff negotiations. the mortgage interest deduction. government spending on this will reach $100 million by 2014, making it the third largest tax break on the books. who does it help? 41 million people. the most recent irs data showed that 41 million people claimed this deduction on their 2010 tax returns. the tax policy center says it tends to benefit upper middle class families the most. these bars show income in the circles the average savings. for those with incomes of less than $40,000 a year, their savings is $91, look at the people who make $250,000 and more. their average savings is about $5500. this benefits people most on both coasts and cities like chicago, with higher property prices, and we watch the fiscal cliff negotiations closely for what could happen next to this tax goody next year. >> here's the question i'm hearing people ask, if we go off the cliff here, how big a hit will we take on taxs? stand by, because i'm about to give you the closest answer i possibly can. to help me with tha
cliff negotiations. the mortgage interest deduction. government spending on this will reach $100 million by 2014, making it the third largest tax break on the books. who does it help? 41 million people. the most recent irs data showed that 41 million people claimed this deduction on their 2010 tax returns. the tax policy center says it tends to benefit upper middle class families the most. these bars show income in the circles the average savings. for those with incomes of less than $40,000 a...
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cliff negotiations. one expressed dismay today at the climate of secrecy surrounding the talks. listen if you would to senator jay rockefeller of west virginia. >> i get nervous when two people disappear into a white house room and start making a grand alliance and they think, well, we're going to do this to the rich and that to the poor, so we'll make that a trade-off. and like tom harkin says, that is unmoral. you cannot do it. >> so for now, let's just say no budget deal come the first of the year. you know what happens. income taxes go up, and under terms of the debt agreement reached last year, government spending would slow. this is the so-called fiscal cliff. now, it is clear what higher taxes would do. but what about budget cuts? who would that affect? a lot of folks including several million unemployed workers. watch this story with me from cnn's kyung lah. >> reporter: she doesn't call it a fiscal cliff. what she could be facing at year's end is a financial free fall. >> i don't know. i just wi
cliff negotiations. one expressed dismay today at the climate of secrecy surrounding the talks. listen if you would to senator jay rockefeller of west virginia. >> i get nervous when two people disappear into a white house room and start making a grand alliance and they think, well, we're going to do this to the rich and that to the poor, so we'll make that a trade-off. and like tom harkin says, that is unmoral. you cannot do it. >> so for now, let's just say no budget deal come the...
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for an agent, call the number that appears on your screen. >>> so how do you make the fiscal cliff negotiations funny? let's check in to see what some of the late-night comics are saying. >> you know, it's a special time of the year. we've been looking forward to it for months now. everywhere you go you can see the twinkle in little children's eyes because they know in a few short weeks the fiscal cliff is coming to town. ma merry cliff-mas. jim? >> the president is asking for $1.6 trillion. >> entitlement reform. >> discretionary spending. [ applause [ applause ] >> i'm back. what happened? >> they are still trying to reach a resolution in the fiscal cliff talks. it's getting a little heated between president obama and speaker boehner. take a look at what they've been saying to each other. yesterday obama said, quote, if we can get some leadership on the republican side, we can probably solve this in about a week. it's not that tough. boehner then responded saying, quote, i've sent the president our proposal. if he doesn't like our plan, he should come back with a plan of his own. obama respon
for an agent, call the number that appears on your screen. >>> so how do you make the fiscal cliff negotiations funny? let's check in to see what some of the late-night comics are saying. >> you know, it's a special time of the year. we've been looking forward to it for months now. everywhere you go you can see the twinkle in little children's eyes because they know in a few short weeks the fiscal cliff is coming to town. ma merry cliff-mas. jim? >> the president is asking...
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. >> so a lot of democrats are saying that no big deal if you go over the fiscal cliff. it seems like republicans are moving towards giving in on the tax rates. might even just vote on the tax portion of the negotiations and kick the rest into january to deal with. if you get a deal on the taxes that president obama seems like he would sign, what happens to the government on the second half of the cliff, the sequester and other extenders? you were at omb. can the government deal with that? can we be okay? >> there's a lot of ifs. republicans don't want to raise taxes on the middle class. they want to pass a bill to prevent increase on rates on the middle class. that would be a good thing. if we got past january 3rd and the sequester went into effect, there are a ways to move through money in accounts where you can buy a few weeks. that's an important thing to do. now don't get me wrong. there would still be a huge impa impact. i don't know what the markets would do. wall street is in a mind if we go past january 3rd, we will fall off the cliff. and secondly, there are pe
. >> so a lot of democrats are saying that no big deal if you go over the fiscal cliff. it seems like republicans are moving towards giving in on the tax rates. might even just vote on the tax portion of the negotiations and kick the rest into january to deal with. if you get a deal on the taxes that president obama seems like he would sign, what happens to the government on the second half of the cliff, the sequester and other extenders? you were at omb. can the government deal with...
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>> ron, the "national review" is reporting that if the fiscal cliff talks go sour, that john boehner might have a challenge for his speaker post. do you agree with that? >> i think speaker boehner is extremely strong in his position. he's been very, very smart, including the republican leadership, in his negotiations. while it's just him and president obama, he has them inside the room before he goes and meets with the president, he talks to them and they reflect the views of the entire conference. the key here with the entire deal is that the devil is in the details. once these details come out, it's going to take arm-twisting by both sides. it's going to take calls from the president and democrats. it's going to take the speaker to make sure republican conference members are falling into line and that's where we're going to see, when the rubber meets the road, if this deal can get done. remember, you know, health care reform by the president passed on december 24th. so we do have a president there just going right up to christmas. and if it doesn't happen at christmastime, they'll
>> ron, the "national review" is reporting that if the fiscal cliff talks go sour, that john boehner might have a challenge for his speaker post. do you agree with that? >> i think speaker boehner is extremely strong in his position. he's been very, very smart, including the republican leadership, in his negotiations. while it's just him and president obama, he has them inside the room before he goes and meets with the president, he talks to them and they reflect the views...
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you have the fiscal cliff, and you have all kinds of gridlock in washington. what do you make of what you see? >> it is very strange. i mean, it could be that somebody should sit down and rewrite the way america runs things, because, you know, while america did this, china moves forward rapidly. other countries are more decisive move forward rapidly. so i think on the fiscal cliff it will get sorted. it would be nice if there could be a bit more decisive leadership. if you run a company, you don't have this -- this horrible problem where you can't make decisions. you can get on and say if i want to get into space, i'll go into space. let's get on and invest in it. if i want to go down to the bottom of the oceans, let's build a submarine that goes to the bottom of oceans. it's a lot easier than running a country. >> do you blame any particular side? is it all the same to you? >> look, i think i'm slightly biased one way more than the other, but i'm not going to push out 50% of the people watching your program right now. all right. i think that as far as things
you have the fiscal cliff, and you have all kinds of gridlock in washington. what do you make of what you see? >> it is very strange. i mean, it could be that somebody should sit down and rewrite the way america runs things, because, you know, while america did this, china moves forward rapidly. other countries are more decisive move forward rapidly. so i think on the fiscal cliff it will get sorted. it would be nice if there could be a bit more decisive leadership. if you run a company,...
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i think the president wants to take us over the fiscal cliff. >> you will vote for speaker boehner? >> i don't see any reason not to at this point. >> congressman paul brown, thank you so much. appreciate it. >> thanks, brooke. god bless you. >> thank you. until recently blockbuster movies have been created in hollywood, but the industry is taking on a more southern style and moving away from tinseltown. we will take a look at why. >> per atlanta, georgia. there is reason to believe it is looking that way. georgia made 3.1 billion in and film production this year alone. some of your favorite shows shot in 50 georgia counties. big question. why georgia? we went to a set here in atlanta to find out. >> when it kim to this movie, john travolta and robert deniro, they had a choice to make and hollywood was not the 0. >> they found a deep and experienced crew base and had to bring very, very few people to the atlanta area to built our crew. >> they were not the first to pack up and head east. a recent study shows that los angeles county lost more than 16,100 movie-related shobs between 2
i think the president wants to take us over the fiscal cliff. >> you will vote for speaker boehner? >> i don't see any reason not to at this point. >> congressman paul brown, thank you so much. appreciate it. >> thanks, brooke. god bless you. >> thank you. until recently blockbuster movies have been created in hollywood, but the industry is taking on a more southern style and moving away from tinseltown. we will take a look at why. >> per atlanta, georgia....
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host: how will the fiscal cliff negotiations affect you? will you lose benefits? caller: i will lose benefits at the end of december, and i will have to go on county assistance to see what they can do to help, but i would rather go back to work. i started picking work when i was 12 years old. host: what are you doing to prepare for the scenario? caller: i am trying to get my ged but i have always had a problem with education. guest: this is a huge issue. people like john are not at the negotiation table. it is tough to consider the full range of decisions. what we find time and time again is that the education and skills component of helping unemployed workers get back into the workforce is a big obstacle. we have 40 programs on the federal level to deal with that, but based on analysis out of rutgers university, is usually people that have been able to find their own education path and get their own skills and out of these government programs have been the most successful. that is a problematic dynamic. host: lisa is next from texas on the independent line. good
host: how will the fiscal cliff negotiations affect you? will you lose benefits? caller: i will lose benefits at the end of december, and i will have to go on county assistance to see what they can do to help, but i would rather go back to work. i started picking work when i was 12 years old. host: what are you doing to prepare for the scenario? caller: i am trying to get my ged but i have always had a problem with education. guest: this is a huge issue. people like john are not at the...
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they look at the role of lobyists in those fiscal cliff negotiations. and an update on the situation in syria. washington journal live at 7:00 a.m. on c-span. >> by a majority of 6 to 3 and they are going to say that is precedent. and indiana had a -- >> they decided on the indiana case it was constitutional for them to establish i.d. they did not say that all of those states who have subsequently done that -- >> let me finish because you misrepresent what i said. >> hold on. >> that's the law of the land. >> when i hear these accusations that black people, voter i.d. laws disproportionately affect minorities, it implies to me we have something missing in our brain. to me if white can get i.d.'s to vote and follow the processes to follow the laws, what are you telling black people? that they are not good enough, that they are lesser than and that bothers me from democrats on the left that we always have to make special -- there has to be a specialness when we deal with minorities because they are too feebleminded. we need to make concessions for them be
they look at the role of lobyists in those fiscal cliff negotiations. and an update on the situation in syria. washington journal live at 7:00 a.m. on c-span. >> by a majority of 6 to 3 and they are going to say that is precedent. and indiana had a -- >> they decided on the indiana case it was constitutional for them to establish i.d. they did not say that all of those states who have subsequently done that -- >> let me finish because you misrepresent what i said. >>...
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after that, a look at the status of the fiscal cliff negotiations between congress and the white house. then a discussion on the role of lobbyists in those talks on the fiscal cliff
after that, a look at the status of the fiscal cliff negotiations between congress and the white house. then a discussion on the role of lobbyists in those talks on the fiscal cliff
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tomorrow, on washington journal, guests discussed the latest on the so-called fiscal cliff negotiations and the week ahead. a politico reporter looks at the lobbyist involvement in those negotiations. and an update on the situation in syria. live at 7:00 a.m. eastern on c- span. >> the supreme court will look at what was passed in 2008 by a majority of 63, i believe and they are going to say that is president. and indiana -- >> we are talking about facts. when they decided the indiana case, it was constitutional for them to establish it. they did not say all the states -- >> correct. they talked about indiana. let me finish peeping >> you are misrepresenting. >> no, i am not. >> i hear these accusations that black people, a voter i.d. lost disproportionately affect minorities. it implies to me that we have something missing in our brains. to me, if white americans can get it to vote and go through all the processes to follow the laws, what are you telling black people? that somehow they are not able to? they are lesser the man? that is what bothers me about the rhetoric coming from demo
tomorrow, on washington journal, guests discussed the latest on the so-called fiscal cliff negotiations and the week ahead. a politico reporter looks at the lobbyist involvement in those negotiations. and an update on the situation in syria. live at 7:00 a.m. eastern on c- span. >> the supreme court will look at what was passed in 2008 by a majority of 63, i believe and they are going to say that is president. and indiana -- >> we are talking about facts. when they decided the...
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tomorrow, we will talk about the latest news about the so-called fiscal cliff negotiations with a former congressional budget office director. then a look at the lobbying going on in washington. later, a look at developments in syria and the response from the international community. "washington journal" here on c- span. this week, we will have the vermont governor and new chairman of the democratic governors' association, who will talk about the fiscal cliff and laying the groundwork for the 2013 and 2014 elections. lives on sunday at 10:00 a.m. eastern. next, a quick look at president obama and the first family last week at the national christmas tree lighting ceremony. ♪ [applause] >> merry christmas, everybody! >> it is great to see you all. happy holidays. happy holidays, mr. president. >> is it time? i think it's time. i hope everybody is ready. we have to do the countdown. starting with five. 5, 4, 3, 2, 1. [cheers] ♪ >> merry christmas, everybody. ♪ >> please welcome the director of washington and st. john's church. >> let us about our heads in prayer. let us prey. gracious
tomorrow, we will talk about the latest news about the so-called fiscal cliff negotiations with a former congressional budget office director. then a look at the lobbying going on in washington. later, a look at developments in syria and the response from the international community. "washington journal" here on c- span. this week, we will have the vermont governor and new chairman of the democratic governors' association, who will talk about the fiscal cliff and laying the groundwork...
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negotiations continue in washington on the so-called fiscal cliff. president obama plans to enter questions from business members. the group has been urging action to prevent huge automatic tax increases in january. those are some of the latest headlines on c-span radio. [video clip] >> we have not coordinated care. all these services have so many cracks that the cracks are as harmful as the diseases that we're treating. you have to step back and ask, are we hurting people overall? what are we doing? now we have the report saying 30% of everything we do not be necessary in health care. 30% of medications we subscribe, the test and procedures we order. this is something for the first time been called out as a problem. >> this function in the health- care industry. what hospitals will not tell you. urday night at 10:00 p.m. on c-span2. >> "washington journal" continues. host: we have been focusing on different aspects of the fiscal cliff. we want to look at capital gains tax and the estate tax. what is the estate tax? guest: it goes back to history --
negotiations continue in washington on the so-called fiscal cliff. president obama plans to enter questions from business members. the group has been urging action to prevent huge automatic tax increases in january. those are some of the latest headlines on c-span radio. [video clip] >> we have not coordinated care. all these services have so many cracks that the cracks are as harmful as the diseases that we're treating. you have to step back and ask, are we hurting people overall? what...
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then all look at the lobbying going around the fiscal cliff negotiations by clients in washington. our guest is anna palmer. and later a discussion on syria and the response from the international community. live at 7:00 a.m. eastern here on c-span. this week on news makers, the vermont governor and chair of the democratic governors' association peter shumlin. he talks about the fiscal cliff and laying the groundwork for the 2013-2014 election. that is at 10:00 a.m. eastern on c-span. >> in president obama's weekly address, he talks about tax policy, the tax cuts put in place by the previous administration that will expire at the end of the year. then the republican address on the economy, jobs, and education policy. >> hello, everybody. over the last few weeks, there's been a lot of talk about deadlines we're facing on jobs and taxes and investments. but with so much noise and so many opinions flying around, it can be easy to lose sight of what this debate is really about. it's not about which political party comes out on top, or who wins or loses in washington. it's about making
then all look at the lobbying going around the fiscal cliff negotiations by clients in washington. our guest is anna palmer. and later a discussion on syria and the response from the international community. live at 7:00 a.m. eastern here on c-span. this week on news makers, the vermont governor and chair of the democratic governors' association peter shumlin. he talks about the fiscal cliff and laying the groundwork for the 2013-2014 election. that is at 10:00 a.m. eastern on c-span. >>...
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cliff negotiations. but now we want to open up the phones. and if you have questions for mr. goldfarb about the so-called fiscal cliff negotiations and tax issues, the numbers are up on the screen. 202-5853. and of course you can also contact us via social media. we'll pull put up those addresses as well. and you can send an email to journal@c-span.org. now, we have this tweet for you, mr. goldfarb. guest: i think dozens of them are for businesses and i don't knowify want to describe them as -- know if i want to describe them as corporate welfare, but as was mentioned, the research and development tax credit, the tax credits to motorsports complexes, otherwise known as nascar tax break, there are tax breaks for retailers, for restaurants, for railroads. the list goes on. so a lot of them are for businesses. host: independence day tweets in -- guest: i'm not exactly sure who is responsible for that provision originally. but it's not very expensive. that's one of the reasons why something like that will ke
cliff negotiations. but now we want to open up the phones. and if you have questions for mr. goldfarb about the so-called fiscal cliff negotiations and tax issues, the numbers are up on the screen. 202-5853. and of course you can also contact us via social media. we'll pull put up those addresses as well. and you can send an email to journal@c-span.org. now, we have this tweet for you, mr. goldfarb. guest: i think dozens of them are for businesses and i don't knowify want to describe them as --...
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that seems unlikely to be changed as part of the fiscal cliff negotiations. you'll still see that surtax on top of that. host: this from twitter. guest: i leave that as it is. host: is that how much it could go up? guest: yes. host: currently it is 35%. go ahead, mark. caller: the previous caller mentioned capital gains -- the recent point about the medicare surcharge to pay for the affordable care act. if he thought it could be a solution to kill both of those birds with one stone. guest: i'm not a health-care expert. host: no problem. we have this from twitter. guest: i believe that is the case. tom in california, go ahead. caller: i have several issues with the estate tax. i am a farmer if it comes back to the normal 1 million exemptions. we work together to build this estate. it wasn't just my parents but it is in my parents' name. i have to pay tax to something i have contributed to. host: help people understand how farmers fall into this estate tax? how is it your estate is worth more than $1 million? caller: we have about 1,000 acres in sonoma county,
that seems unlikely to be changed as part of the fiscal cliff negotiations. you'll still see that surtax on top of that. host: this from twitter. guest: i leave that as it is. host: is that how much it could go up? guest: yes. host: currently it is 35%. go ahead, mark. caller: the previous caller mentioned capital gains -- the recent point about the medicare surcharge to pay for the affordable care act. if he thought it could be a solution to kill both of those birds with one stone. guest: i'm...
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cliff negotiations. two questions on that. one is, does that suggest that there is movement, so we're no longer talking about tax cuts or tax increases? and where is the administration, i know you guys have argued back that they have provided details on spending cuts, but are you prepared to offer more? today you have a letter from c.b.o.'s urging that spending cuts, entitlement adjustments and so forth be a multiple, a greater multiple than revenues. is the white house prepared to do more on that front? >> let me take your questions in relative order. first of all, i did hear what the speaker of the house had to say. and i would note that if there is one fact that should not be in dispute it ought to be this, the president, unlike any other party to these negotiations, has put forward detailed spending cuts as well as detailed revenue proposals. it is a simple fact that the president put those forward to the nat so super supercommittee in september of 2011. and that he again in the process of these nego
cliff negotiations. two questions on that. one is, does that suggest that there is movement, so we're no longer talking about tax cuts or tax increases? and where is the administration, i know you guys have argued back that they have provided details on spending cuts, but are you prepared to offer more? today you have a letter from c.b.o.'s urging that spending cuts, entitlement adjustments and so forth be a multiple, a greater multiple than revenues. is the white house prepared to do more on...
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off the floor, negotiations continue on the fiscal cliff. this morning "washington journal" talk to a business representative about his take on the negotiations. host: let's begin with what is business forward, how did it come about? guest: is simple mission. our job is to make it easier for business leaders in the country who care about policy issues but did not have a washington office or a lobbyist, to speak about the issues of public policy. host: is this a brand-new organization? who is involved? >> we have been around 3 1/2 years, supported by some of the biggest companies of the world, with business leaders are in the country. we go out to small business owners, entrepreneurs, venture capitalist to get them involved in policy-making. what we do is we bring administration officials, members of congress, governors out to cities around the country to be briefings with business leaders. what we also do is bring the business leaders to washington. we tell them how to grow jobs and accelerate. host: what did the business leaders say to the
off the floor, negotiations continue on the fiscal cliff. this morning "washington journal" talk to a business representative about his take on the negotiations. host: let's begin with what is business forward, how did it come about? guest: is simple mission. our job is to make it easier for business leaders in the country who care about policy issues but did not have a washington office or a lobbyist, to speak about the issues of public policy. host: is this a brand-new organization?...
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negotiations continue over the so-called looming fiscal cliff. yesterday president obama and john boehner spoke by phone. washington post reported however that they are still working on a deal and nothing is locked down yet. we will talk more about the fiscal cliff this morning on "the washington journal." what tax deductions would you give up as part of a solution to the deficit problems? here are the numbers to call. for republicans, 202-585-3881. for democrats, 202-585-3880. for independents, 202-585-3882. you can also find us online. send us a tweet, twitter.com/c- spanwj. find a son facebook and weigh in there. at journal@c- span.org. "the christian science monitor," asked what we would be willing to give up. "americans would be willing to give up the tax deduction for charitable giving over other popular tax breaks." host: let's take a look at the results of this poll. 25% said that they would be willing to give up the charitable giving tax deduction. almost the same amount said it would be willing to give up their deduction for state taxes
negotiations continue over the so-called looming fiscal cliff. yesterday president obama and john boehner spoke by phone. washington post reported however that they are still working on a deal and nothing is locked down yet. we will talk more about the fiscal cliff this morning on "the washington journal." what tax deductions would you give up as part of a solution to the deficit problems? here are the numbers to call. for republicans, 202-585-3881. for democrats, 202-585-3880. for...
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president obama spoke about the fiscal negotiations to a group of corporate c.e.o. oomplet and see the president shaking their hands. president obama's remarks are coming up here on c-span. we wanted to let you know from secretary treasury geithner. if republicans don't agree to higher tax rates. in speaking to business executives today, the president said he thinks republicans might be willing to agree to higher tax rates on the wealthy. mr. obama is introduced by the c.e.o. of boeing. >> we at the business roundtable are grateful to both the electricity -- for the engagement we have had with you and members of your team. listen, i know your team has really reached out significantly over the last few months to many people in this room. and i know personally from my work in the last three years on the export council that the outreach to us is again you inand we know you are seeking solutions that was outlined very sincerely this morning when we met with jack and the rest of the team. and i hope you get the same sense of purpose and commitment from us as we engage wi
president obama spoke about the fiscal negotiations to a group of corporate c.e.o. oomplet and see the president shaking their hands. president obama's remarks are coming up here on c-span. we wanted to let you know from secretary treasury geithner. if republicans don't agree to higher tax rates. in speaking to business executives today, the president said he thinks republicans might be willing to agree to higher tax rates on the wealthy. mr. obama is introduced by the c.e.o. of boeing....
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fiscal cliff negotiations. house speaker john boehner and the white house traded a second round of proposals yesterday on the budget cus that begin to take effect in january of 2013. this is nearly half an hour. >> good morning, everyone. i'm really proud to stand here today with the house republicans and my colleagues to tell a very important story and it's a story of hard working americans and their families. and let me tell you there's no story that is more powerful. the story of all americans, it's the story of moms an dads, husbands and wives, grandparents that work hard and sacrifice, so that they can leave a better america to their children and their grandchildren. and as the debate is looming over the fiscal cliff, we stand here to fight for those hard working americans and their families. because as the federal government grows larger and larger, the middle class is squeezed more and more. and as i -- i'm a mom. i have two kids. when my daughter was born two years ago, her share of the national debt wa
fiscal cliff negotiations. house speaker john boehner and the white house traded a second round of proposals yesterday on the budget cus that begin to take effect in january of 2013. this is nearly half an hour. >> good morning, everyone. i'm really proud to stand here today with the house republicans and my colleagues to tell a very important story and it's a story of hard working americans and their families. and let me tell you there's no story that is more powerful. the story of all...
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of the fiscal cliff. this is about 15 minutes. >> i went to begin by thanking all the folks around the table here for sharing their personal stories with may about how this increase in taxes -- my friend fernand no calculated it down to the penny. each of their stories are different. maybe after i head out, they will be willing to talk to you. the bottom line was that there is -- in the neighborhood we come from, there are $2,000 to $4,000 less in your paycheck next year makes the material difference in the way [indiscernible] i will let them decide the way to tell their personal stories spending one person at this table has two children with severe disabilities. twins come a beautiful little girls. a lot of programs they desperately need -- and number of them are paid for or made available and possible because of state and federal programs. the things that do not cover that make a real difference in their lives -- they have a problem that is -- what is the phrase? which means that they have trouble contr
of the fiscal cliff. this is about 15 minutes. >> i went to begin by thanking all the folks around the table here for sharing their personal stories with may about how this increase in taxes -- my friend fernand no calculated it down to the penny. each of their stories are different. maybe after i head out, they will be willing to talk to you. the bottom line was that there is -- in the neighborhood we come from, there are $2,000 to $4,000 less in your paycheck next year makes the...
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and he has been very involved in the fiscal cliff negotiations. and before he was a center, but before he was a senator, he was the governor of virginia. and steve case, chairman of the case foundation, a co-founder of america online, a rabbit twitterer -- and i feel like i know every detail of your life, steve, had a relentless proponent on entreneurship. each panelists get sick 5-7 minutes -- each panelist gets a five-seven minutes to discuss the topic, and we will have a conversation, and then we will open that up to you and hopefully get to all of your comments and questions. if we will start with president sullivan. >> thank you. i am delighted to be here this evening because the topic is important panelists are interesting, but also because this conference recognizes mort kaplan, a great benefactor of uva, and i am pleased to have the opportunity to speak on behalf of tonight. we're talking about immigration policy and the ability to extract high skilled immigrants. especially scientists, engineers, business people who contribute to innovati
and he has been very involved in the fiscal cliff negotiations. and before he was a center, but before he was a senator, he was the governor of virginia. and steve case, chairman of the case foundation, a co-founder of america online, a rabbit twitterer -- and i feel like i know every detail of your life, steve, had a relentless proponent on entreneurship. each panelists get sick 5-7 minutes -- each panelist gets a five-seven minutes to discuss the topic, and we will have a conversation, and...
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and create another fiscal cliff down the road. i hope we will not do that. i still think there is time before the end of the year to make that happen, but again, if it does not happen, unfortunately what that does is throw us into another debt ceiling situation, which is just not good for our country. we would be so much better off starting off on january 1 with this in the rearview mirror. our economy would take off and our country would be so much better off. >> chris, you understand the politics of the house from both sides. can john boehner cut a deal without eric cantor and paul ryan? >> i have a pretty good understanding of the house, but i always am a little afraid of wandering into house republican leadership politics. just to broaden the question a little bit -- i think the question is whether or not the speaker is going to be able to bring a good part of his caucus with him. that or require a united leadership team. >> i am talking short-term -- the next two or three weeks. >> i think that is going to be a requirement. i
and create another fiscal cliff down the road. i hope we will not do that. i still think there is time before the end of the year to make that happen, but again, if it does not happen, unfortunately what that does is throw us into another debt ceiling situation, which is just not good for our country. we would be so much better off starting off on january 1 with this in the rearview mirror. our economy would take off and our country would be so much better off. >> chris, you understand...
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host: we have been breaking apart the fiscal cliff talks, looking a different policy aspects of the negotiations and today we focus on domestic spending. charles clark, senior correspondent with government executive me -- media group is here. sequestration, if it happens, we talk about automatic spending cuts, but what is sequestration? they usedthe 1980's, to talk about the vegomatic, a late-night advertisement that did the cutting for you. in 2011, congress had a super committee that was supposed to determine the cuts and they failed. the backup plan was something nobody wanted, but it was supposed to put fear into everyone, and that was across- the-board cuts of about $500 billion over 10 years. host: in domestic spending? guest: yes, and another $500 billion in national security- related spending. host: in 2013, we're talking about a total of $109 billion in cuts. discretionary spending makes up about $38 billion. non-defense mandatory makes up about $17 billion. can you explain the difference? guest: mandatory has to do with entitlement programs that beneficiaries are permitted to receive b
host: we have been breaking apart the fiscal cliff talks, looking a different policy aspects of the negotiations and today we focus on domestic spending. charles clark, senior correspondent with government executive me -- media group is here. sequestration, if it happens, we talk about automatic spending cuts, but what is sequestration? they usedthe 1980's, to talk about the vegomatic, a late-night advertisement that did the cutting for you. in 2011, congress had a super committee that was...
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and as the fiscal cliff negotiations continue we spoke earlier today with a capitol hill reporter. >> what was the purpose of speaker boehner's appearance to speak about the fiscal cliff? >> you saw each major congressional player give some sort of speech but i think anything happening of consequence is happening between speaker bayne around the president and it's happening in a closely guarded, off-camera, way, they're actually trying to negotiate a deal and the rule of washington is when a deal is being done, people don't talk about it. when a deal is collapse, you know because they're both shouting about what the other side is doing. you saw speaker boehner and senate leader mitch mcconnel and jay carney from the white house press room, nancy pelosi, and harry reid saying we still want to see what they're willing to do before we move forward. it's the same line we've heard for a long time, we're just closer to the deadline now. >> in harry reid's comments he seemed to give an indication of a timetable. did he seem optimistic or pessimistic about getting it done? >> he seemed pessim
and as the fiscal cliff negotiations continue we spoke earlier today with a capitol hill reporter. >> what was the purpose of speaker boehner's appearance to speak about the fiscal cliff? >> you saw each major congressional player give some sort of speech but i think anything happening of consequence is happening between speaker bayne around the president and it's happening in a closely guarded, off-camera, way, they're actually trying to negotiate a deal and the rule of washington...
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on today's network tv talk shows, the topics include the so-called fiscal cliff and the negotiations between the white house and congress and the situation in the middle east. you could hear all the shows on cspan radio beginning at noon eastern. first is meet the press with senator dick durbin and kevin mccarthy. at 1:00 p.m., pierre abc's of this week with republican senator tom coburn and democratic senator debbie stabenow. the chair like to the house financial services committee, jeb hensarling and congressional progress of caucus co-chair. at 2:00 p.m. is fox news sunday with chris wallace and chuck schumer. and republican senator bob corker. also on the program is the israeli a bastard to the united states. cnn's state of the union follows and welcomes the managing director of the international monetary fund, christine lagarde. at 4:00 p.m., here "face the nation"where they talked with alan simpson and erskine bowles. also on the program, an interview with cory booker. the sunday network tv shows are repairing here on c-span at noon -- here on cspan radio. listen to them all on
on today's network tv talk shows, the topics include the so-called fiscal cliff and the negotiations between the white house and congress and the situation in the middle east. you could hear all the shows on cspan radio beginning at noon eastern. first is meet the press with senator dick durbin and kevin mccarthy. at 1:00 p.m., pierre abc's of this week with republican senator tom coburn and democratic senator debbie stabenow. the chair like to the house financial services committee, jeb...
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. >> yesterday afternoon, i came to the floor and offered president obama's proposal on the fiscal cliff to show that neither he nor democrats in congress are acting in good faith in these negotiations. with just a few weeks ago before a potentially entirely avoidable blow to the economy, the president proposed a plan the members of his own party will even vote for. he is not interested in a balanced agreement, not particularly interested in avoiding the fiscal cliff, and clearly not interested at all in cutting any spending. with the president is really in, as we learned just yesterday, is getting as much taxpayer money as he can, first by raising taxes on small businesses who he believes are making too much money, and then on everybody else. not so he can lower the debt or the deficit, but so he can spend to his heart's content. for months, the president has been saying that all he wanted to raise taxes on the top 2% so he can tackle the debt and the deficit. however, yesterday, he finally revealed that that is not really is true intent. by demanding the power to raise the debt limit w
. >> yesterday afternoon, i came to the floor and offered president obama's proposal on the fiscal cliff to show that neither he nor democrats in congress are acting in good faith in these negotiations. with just a few weeks ago before a potentially entirely avoidable blow to the economy, the president proposed a plan the members of his own party will even vote for. he is not interested in a balanced agreement, not particularly interested in avoiding the fiscal cliff, and clearly not...
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cliff negotiations. >> for video of other events we have covered about the fiscal cliff, see our special web page. there's also a live twitter stream with comments from the ridge and reporters and a resource area with related documents and links. c-span.org/fiscal cliff. >> an update from capitol hill reporter on the latest in the senate on president obama's proposal on the fiscal cliff and the debt ceiling. this is about five minutes. >> andrew taylor covers congress for the associated press. there were some attempts by mitch mcconnell to get roll-call votes on the president's debt plan and his fiscal cliff plan and the debt ceiling plan. what was he trying to do? >> guest: he was trying to embarrass the democrats. for instance, the president's plan on the debt ceiling was basically allowing the president to request whatever increases without the approval of congress and he thought that would embarrass democrats if they had to vote for it particularly endangered ones. >> sounded like leader reid took the bait. how the democrats respond? >> guest: there are a lot in politics going on her
cliff negotiations. >> for video of other events we have covered about the fiscal cliff, see our special web page. there's also a live twitter stream with comments from the ridge and reporters and a resource area with related documents and links. c-span.org/fiscal cliff. >> an update from capitol hill reporter on the latest in the senate on president obama's proposal on the fiscal cliff and the debt ceiling. this is about five minutes. >> andrew taylor covers congress for the...
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cliff negotiations. two questions on that. does that suggest there is an instance we are no longer talking about tax cuts or tax increases? and where is the administration? i know you guys have argued a lot of details on spending cuts, but are you prepared to offer more? do they have a letter from ceos urging spending cuts and entitlement reforms and so forth be multiple and is the white house prepared to do more on that? >> let me take your questions in relative order. first of all, i did hear what the speaker of the house had to say. and i would note if there is one fact that should not be in dispute it ought to be this the president, unlike any other party to these negotiations, has put forth detailed spending cuts, as well as detailed revenue proposals. it is a simple fact that the president put those four would to the not so super super committee in september 2011, and that he, again, in the process of these negotiations, put them forward as his position when it came to both the revenue that was req
cliff negotiations. two questions on that. does that suggest there is an instance we are no longer talking about tax cuts or tax increases? and where is the administration? i know you guys have argued a lot of details on spending cuts, but are you prepared to offer more? do they have a letter from ceos urging spending cuts and entitlement reforms and so forth be multiple and is the white house prepared to do more on that? >> let me take your questions in relative order. first of all, i...
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during the fiscal cliff negotiations, some have possible ited that all -- posited that all that is at stake is a return to the tax rates of the clinton era. but that is not what is happening with tax rate on capital gains. during the latter part of the clinton era, a republican majority in congress was able to get agreement on cutting the top tax rate on capital gains to 20% at that time. if the tax rate on capital gains remains at the 2012 rate of 15%, coupled with the new 3.8% tax on net investment income, capital gains will be taxed at 18.8% very close to the clinton era rate. a 5% increase on the tax on capital gains coupled with the increases imposed by obamacare will result in a rate of 23.8%, well above the tax rate on capital gains at the end of the 1990's. and we should not go down this road. this is said specifically by the senator who along with senator lieberman pushed very hard for these lower capital gains rates. it was a hatch-lieberman bill that really was instrumental in bringing these rates down to the current level. there are a number of arguments on behalf of prefe
during the fiscal cliff negotiations, some have possible ited that all -- posited that all that is at stake is a return to the tax rates of the clinton era. but that is not what is happening with tax rate on capital gains. during the latter part of the clinton era, a republican majority in congress was able to get agreement on cutting the top tax rate on capital gains to 20% at that time. if the tax rate on capital gains remains at the 2012 rate of 15%, coupled with the new 3.8% tax on net...
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while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong bipartisan support. in august, the finance committee approved it by a large margin. we have support from six republicans, including the ranking member, senator hatch. all 13 democrats supported it. i believe that many more republicans will vote for this legislation if it's brought up for consideration here in the senate. the bill consists entirely of tax cuts. it should not be difficult to get senators to vote for tax cuts, right before christmas especially. most of these tax cuts have solid bipartisan support. many of these tax cuts will help the economy, will help the middle class. for example, the
while i hope that the negotiations to avert the fiscal cliff are successful, in my view we should not wait for a grand bargain in order to finish work on this important tax extender legislation. tax extenders are different from the other fiscal cliff issues for three basic reasons, and let me describe those reasons. first tax extenders are much less contentious than the other end of year problems that we -- that need to be resolved. the tax extender bill on the senate calendar has strong...
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the negotiations over the so-called fiscal cliff. former comptroller general david walker and former budget officer took a look at the prospects for a grand bargain. this just over an hour. >> you get my panel up here, going to make a few introductory remarks while they are hooking you all up. okay, today, three issues very briefly. one is the fiscal cliff, two is the debt ceiling, and, three, is the big deal that has to be on the debt and deficit. unfortunately, those issues get von -- convuluded, especially in this town. the fiscal cliff is an artificial date. congress came in, says this law expires on this date. they extended it, expires, put in the sequestering, saying it expires on this date. it is a date. all they have to do is extend the date and allow themselves the time to discuss the issues, and instead, they cram the issues in a lame duck session and letting congress that got unlighted decisions that should be made by the people who should be making the decisions. that's a problem. the fiscal cliff can have real consequenc
the negotiations over the so-called fiscal cliff. former comptroller general david walker and former budget officer took a look at the prospects for a grand bargain. this just over an hour. >> you get my panel up here, going to make a few introductory remarks while they are hooking you all up. okay, today, three issues very briefly. one is the fiscal cliff, two is the debt ceiling, and, three, is the big deal that has to be on the debt and deficit. unfortunately, those issues get von --...
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Dec 11, 2012
12/12
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between the president and congress as we face the fiscal cliff. he said at one point that the president is calling for raising taxes $1.6 billion. that's true. but i would call to his attention the fact that the simpson-bowles commission suggested that 40% of the $4 trillion in deficit reduction come from revenue in taxes. what the president is suggesting is entirely consistent with that bipartisan group's call for more revenue in taxes as part of our deficit reduction. the president's made it clear, though, he wants to protect and insulate middle-income families from any income tax increases, and i agree with him. we should not raise the income taxes on those making less than $250,000 a year. i voted that way in july. we sent the bill to the house. it sits there. it languishes in the house because the speaker won't call it. he has his chance this week or the next to call that bill on the floor of the house of representatives to avoid any tax increase on middle-income families. that's an important thing for us to get done before we leave at the en
between the president and congress as we face the fiscal cliff. he said at one point that the president is calling for raising taxes $1.6 billion. that's true. but i would call to his attention the fact that the simpson-bowles commission suggested that 40% of the $4 trillion in deficit reduction come from revenue in taxes. what the president is suggesting is entirely consistent with that bipartisan group's call for more revenue in taxes as part of our deficit reduction. the president's made it...